HB 641-LOCAL - AS INTRODUCED
1999 SESSION
HOUSE BILL 641-LOCAL
AN ACT clarifying the value of public utility property for property tax purposes.
SPONSORS: Rep. MacGillivray, Hills 21
COMMITTEE: Municipal and County Government
This bill creates a presumption that the assessed value of public utility properties for purposes of property taxation is equal to at least the depreciated book value multiplied by the factor for change in the consumer price index-urban since the property was acquired.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
99-0817
09/01
STATE OF NEW HAMPSHIRE
In the Year of Our Lord One Thousand Nine Hundred and Ninety-Nine
AN ACT clarifying the value of public utility property for property tax purposes.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Presumption of Assessed Value. Amend RSA 72:8 to read as follows:
72:8 Electric Plants and Pipe Lines
I. All structures, machinery, dynamos, apparatus, poles, wires, fixtures of all kinds and descriptions, and pipe lines employed in the generation, production, supply, distribution, transmission, or transportation of electric power or natural gas, crude petroleum and refined petroleum products or combinations thereof, shall be taxed as real estate in the town in which said property or any part of it is situated; provided that no electric power fixtures which would otherwise be taxed under this section shall be taxed under this section if they are employed solely as an emergency source of electric power.
II. The assessed value of property subject to taxation under paragraph I is presumed to be equal at least to the depreciated book value of the property multiplied by the factor for change in the consumer price index - urban since the property was acquired. This presumption may be overcome by clear and convincing evidence that the formula for determining assessed value does not accurately reflect the value of the property in issue.
2 Effective Date. This act shall take effect April 1, 2000.